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This ATM Hack Allows Crooks to Steal Money From Chip-and-Pin Cards

This ATM Hack Allows Crooks to Steal Money From Chip-and-Pin Cards
Aug 05, 2016
Forget about security! It turns out that the Chip-and-PIN cards are just as easy to clone as magnetic stripe cards. It took researchers just a simple chip and pin hack to withdraw up to $50,000 in cash from an ATM in America in under 15 minutes. We have been told that EMV ( Europay, MasterCard and Visa ) chip-equipped cards provides an extra layer of security which makes these cards more secure and harder to clone than the old magnetic stripe cards. But, it turns out to be just a myth. A team of security engineers from Rapid7 at Black Hat USA 2016 conference in Las Vegas demonstrated how a small and simple modifications to equipment would be enough for attackers to bypass the Chip-and-PIN protections and enable unauthorized transactions. The demonstration was part of their presentation titled, "Hacking Next-Gen ATMs: From Capture to Washout," [ PDF ]. The team of researchers was able to show the audience an ATM spitting out hundreds of dollars in cash. Here

How Hackers Can Hack Your Chip-and-PIN Credit Cards

How Hackers Can Hack Your Chip-and-PIN Credit Cards
Oct 21, 2015
October 1, 2015, was the end of the deadline for U.S. citizens to switch to Chip-enabled Credit Cards for making the transactions through swipe cards safer. Now, a group of French forensics researchers have inspected a real-world case in which criminals played smart in such a way that they did a seamless chip-switching trick with a slip of plastic that it was identical to a normal credit card. The researchers from the École Normale Supérieure University and the Science and Technology Institute CEA did a combined study of the subject, publishing a research paper [ PDF ] that gives details of a unique credit card fraud analyzed by them. What's the Case? Back in 2011 and 2012, police arrested five French citizens for stealing about 600,000 Euros (~ $680,000) as a result of the card fraud scheme, in spite of the Chip-and-PIN cards protections. How did the Chip-and-Pin Card Fraud Scheme Work? On investigating the case, the researchers discovered that the n

Cracking the Code to Vulnerability Management

SaaS
websitewiz.ioVulnerability Management / Cloud Security
Vulnerability management in the cloud is no longer just about patches and fixes. In this latest report, the Wiz Security Research team put vulnerability management theory into practice using recently identified vulnerabilities as examples. Get the FREE report.

Transform Your Data Security Posture – Learn from SoFi's DSPM Success

Transform Your Data Security Posture – Learn from SoFi's DSPM Success
Nov 28, 2023Data Security / Posture Management
As cloud technology evolves, so does the challenge of securing sensitive data. In a world where data duplication and sprawl are common, organizations face increased risks of non-compliance and unauthorized data breaches. Sentra's DSPM (Data Security Posture Management) emerges as a comprehensive solution, offering continuous discovery and accurate classification of sensitive data in the cloud. This informative webinar, " Securing Sensitive Data Starts with Discovery and Classification: SoFi's DSPM Story " unveils the success story of SoFi, a pioneering cloud-native financial services provider, and its journey with Sentra's DSPM. It explores the challenges and triumphs in securing cloud data and a roadmap to implementing effective DSPM strategies in your organization. Expert Panel: Aviv Zisso:  As Director of Customer Success at Sentra, Aviv brings deep insights into data security needs and solutions. Pritam H Mungse:  SoFi's Director of Product Security, Pr

Chip-and-PIN Credit Cards and The Deadline: Here's What You need To Know

Chip-and-PIN Credit Cards and The Deadline: Here's What You need To Know
Oct 01, 2015
October 1 Liability shift ENDS! Today, 1st October 2015 , is the deadline for US-based Banks and Retailers to roll out Chip-embedded Credit Cards ( powered by EVM Technology ) to customers that will make transactions more secure. EVM Technology stands for Europay , MasterCard and Visa -- a global standard for Payment Cards equipped with Chips used to authenticate chip card transactions. Starting Thursday, Merchants must have new Payment Terminals installed to accept Chip Cards in their stores or restaurants. Otherwise, they will be responsible for credit card frauds. Stephanie Ericksen, Visa's Vice President Risk Products said, " That's the date by which if a merchant doesn't have a chip terminal, and a counterfeit card is used at that location, they may be liable for that fraud on that transaction. '' 60% Customers Still have Old Credit Cards However, If you have not received a new credit card with chip technology, don't worry,
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